James King, senior vice president and head of Prudential Retirement's Stable Value Market Group, has been elected chairman of the board of the Stable Value Investment Association. He began his term Jan. 1.
Prudential Retirement is a division of Prudential Financial, with more than $78 billion in stable value retirement account values.
"I'm thrilled to be representing Prudential Retirement as chairman of the board for the Stable Value Investment Association," King said. "During my tenure, I plan to support the asset class by continuing to provide education around the importance of a stable value component in retirement savings plans to regulators and legislators as well as encourage the adopting of stable value by plan sponsors."
SVIA is a non-profit association dedicated to educating policymakers and the public about the importance of saving for retirement and the contribution stable value funds can make toward achieving a financially secure retirement. At Dec. 31, 2012, SVIA 75 member companies had $540 billion in stable value funds for more than 25 million participants.
Chair of Charitable Board
Schwab Charitable announced new leadership appointments that became effective Jan. 1, with Acting President Kim Laughton now president and Carrie Schwab-Pomerantz elected chairman of the board.
Laughton, a 16-year veteran of Schwab and Schwab Charitable takes on the role of president after having been in the interim role the past six months. Laughton joined Schwab Charitable in 2007 and led the organization's strategy, product management, web development and marketing efforts. Starting in 1995, Laughton held a number of product management and marketing leadership positions at Charles Schwab & Co. She is actively involved in her community and sits on the board and chairs the investment committee for the Educational Foundation of Orinda.
Schawb-Pomerantz has led numerous philanthropic, educational and financial services organizations. A 20-year veteran of Charles Schwab & Co., she has held a number of positions at the company, including her current role and president of Charles Schwab Foundation, a private, nonprofit organization funded by The Charles Schwab Corp.
She was appointed in 2010 by President Obama to the President's Advisory Council on Financial Capability, and serves as the chair of the Council's Partnership Committee. Schwab-Pomerantz was also recently elected to the Board of Governors for Boys & Girls Clubs of America. She is also a director of the International Women's Forum Leadership Foundation.
Schwab Charitable, through its donor-advised fund, allows individuals to contribute cash or appreciated assets to a charitable account, with sizes ranging from $5,000 to more than $400 million, to realize the greatest possible tax benefits, while supporting their favorite charities. To date, Schwab Charitable has raised more than $5.8 billion and has facilitated over $2.7 billion in grants to charities on behalf of its donors since inception.
Levi, White Join Board of
Casey, Quirk & Associates
Jeffrey A. Levi and Justin R. White have been appointed directors of investment management consultancy Casey, Quirk & Associates.
Levi, an associate director prior to his new appointment, joined Casey Quirk in 2008 and has advised traditional and alternative asset managers on strategic initiatives, including global distribution, market entry and product strategies.
Levi is co-author of the firm's 2009 white paper, "The Hedge Fund of Tomorrow: Building an Enduring Firm." The report was produced in partnership with the Bank of New York Mellon. Levi is also a contributor to Casey Quirk's economic alignment practice area.
White, also an associate director before his new appointment, joined Casey Quirk in 2008. He is a project manager for much of the consultancy's retail-oriented work, including intermediary-sold mutual funds, ETFs and the defined contribution marketplace. He also is a co-author of Casey Quirk's 2009 white paper, "Target-Date Retirement Funds: The New Defined Contribution Battleground."
UBS Hires Two Key
Morgan Stanley Teams
UBS Wealth Management Americas has hired two financial advisor teams from Morgan Stanley Smith Barney in New Jersey and California.
The Paramus, N.J., a three-member team includes: First Vice President Mario Afram and Vice Presidents Carl Ekroth and Harish Jashanani.
Joining in Encino, Calif., are First Vice President Shawn Shafer and Vice President James Forsyth and Steven Miller, also a vice president.